Search found 488 matches

by Luckywon
Tue Apr 23, 2019 10:27 am
Forum: Personal Consumer Issues
Topic: At what age did you buy your first first class airplane ticket?
Replies: 112
Views: 4985

Re: At what age did you buy your first first class airplane ticket?

Age 49, paid about $9,000 for a pair of business class tickets to Europe. Earning similar salary to yours at the time, but with NW >25x expenses. Even then, and now, paying that kind of money is a bit of an existential struggle for me, but I have done it a few times since.
by Luckywon
Mon Apr 22, 2019 10:59 pm
Forum: Personal Consumer Issues
Topic: Living Overseas for 4 Months/Year for Regional Travel (Retirement)
Replies: 75
Views: 5466

Re: Living Overseas for 4 Months/Year for Regional Travel (Retirement)

Homes are a ball and chain, when owned. Perhaps it's a good time to switch to renting if kids are done with school. No kids in the picture but capital gains taxes and a reluctance to forego potentially a lifetime property tax break due to California Prop 13 make selling an unattractive option.
by Luckywon
Mon Apr 22, 2019 3:24 pm
Forum: Personal Consumer Issues
Topic: Living Overseas for 4 Months/Year for Regional Travel (Retirement)
Replies: 75
Views: 5466

Re: Living Overseas for 4 Months/Year for Regional Travel (Retirement)

I would like to do something similar, spending a few months abroad, though I probably would favor just moving from one country to the other and not having a home base. I am curious, what do you see as the options for your place in the United States while you are abroad? I don't think it's worth the ...
by Luckywon
Mon Apr 22, 2019 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Mid year S-corp to sole proprietorship tax/401k implications
Replies: 38
Views: 1622

Re: Mid year S-corp to sole proprietorship tax/401k implications

Are you aware that QBI for a Sole Prop is reduced by 1/2 of SE tax, self-employed health insurance deduction and any pre-tax retirement plan contributions? Yes. Also aware the QBI for an S Corp is based on distributions (W-2 income is excluded) and that may make sole proprietorship a better choice ...
by Luckywon
Mon Apr 22, 2019 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Mid year S-corp to sole proprietorship tax/401k implications
Replies: 38
Views: 1622

Re: Mid year S-corp to sole proprietorship tax/401k implications

niceguy7376 wrote:
Mon Apr 22, 2019 12:57 pm
How long have you had the S Corp? Is there a solo 401k plan on the S Corp based on the EIN number of the S Corp?
Elected S Corp status beginning of 2017 so 2017 and 2018 taxes were filed as S Corp. My 401k plan has its own EIN, separate from the EIN of the S Corp.
by Luckywon
Mon Apr 22, 2019 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Mid year S-corp to sole proprietorship tax/401k implications
Replies: 38
Views: 1622

Mid year S-corp to sole proprietorship tax/401k implications

I'm a physician currently have an S-corp but I am thinking sole proprietorship this may be more advantageous for me in terms of reducing federal income tax (increased section 199A QBI deduction). I plan to continue contributions to my individual 401k, possibly shifting to making mega backdoor contri...
by Luckywon
Sat Apr 20, 2019 10:12 am
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 894
Views: 94527

Re: What frugal thing did you do today?

A couple weeks ago. Saw an AMEX offer for $15 off at plated.com (meal kit service). I already subscribe to plated but have a 2% cash back citicard set up for payments. I switched the charge to amex, just for that one week, and got the $15 credit. 😁
by Luckywon
Wed Apr 17, 2019 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: I’m a Loser Stuck in a Dead End Job
Replies: 63
Views: 8285

Re: I’m a Loser Stuck in a Dead End Job

You're clearly a smart guy with many admirable qualities, including being a hard worker and someone who has been a source of great support to his family. It is early in the game for you and I have no doubt great things are in store for you. Have you spent much time educating yourself about personal ...
by Luckywon
Tue Apr 16, 2019 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Physician “TO-DO” list for LLC
Replies: 30
Views: 2765

Re: Physician “TO-DO” list for LLC

Is this just business profits, or gross household income? The amount of the money saved by an S-Corp with W-2 wages >= the Social Security maximum wage base (2019 = $132,900). Is based on (net business profits - employer FICA) - W-2 wages. Eligibility for the QBI deduction is based on taxable incom...
by Luckywon
Sat Apr 13, 2019 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: How to avoid throwing money at problems?
Replies: 62
Views: 4456

Re: How to avoid throwing money at problems?

With respect to hiring a cleaning service or landscaping service, perhaps take your cue from the lessons of behavioral finance and approach the decision this way: Find out how much these things cost. Let's say the cleaning service is $150 for 6 hours of house cleaning. Ask yourself whether you would...
by Luckywon
Sat Apr 13, 2019 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Quality control for tax returns
Replies: 15
Views: 1807

Re: Quality control for tax returns

With a professional tax preparer, I would imagine that the typical errors are not failure to add the right things to the right things and then multiply by 0.305 and compare to line 83 and enter the difference, if more than 0, on line 23b. I imagine the typical errors are overlooking items that shou...
by Luckywon
Fri Apr 12, 2019 12:45 am
Forum: Personal Finance (Not Investing)
Topic: Quality control for tax returns
Replies: 15
Views: 1807

Re: Quality control for tax returns

I cannot find the specific article I mentioned above, but here is a more current one (it is more of a blog, so the normal disclosures apply): http://senseiangie.com/2017/07/04/battle-cpas-pay-two-cpas-find-gets-better-result/ "I had a client that hired me to do his tax return, but didn’t tell me un...
by Luckywon
Wed Apr 10, 2019 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: Quality control for tax returns
Replies: 15
Views: 1807

Re: Quality control for tax returns

you don't necessarily need to purchase turbotax. You could use the online version, enter all the numbers and compare the result without paying. Good to know, thanks! The only way to really be sure is do your taxes yourself, complete with reading all of the instructions, then compare what you get wi...
by Luckywon
Wed Apr 10, 2019 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Notice to vacate/late rent
Replies: 59
Views: 5876

Re: Eviction notice

I'm curious in the change of management companies if the tenants were informed that their automatic withdrawals would not go through and they needed to make other arrangements. We were notified with a paper stating it, but as with many things some get forgotten. Especially if you are used to automa...
by Luckywon
Wed Apr 10, 2019 1:20 am
Forum: Personal Finance (Not Investing)
Topic: Notice to vacate/late rent
Replies: 59
Views: 5876

Re: Eviction notice

Afty wrote:
Tue Apr 09, 2019 11:59 pm
This might be helpful: https://www.nolo.com/legal-encyclopedia ... texas.html
My reading of this is that a landlord in Texas may evict a tenant if the tenant is 1 day late with rent?? I hope I'm wrong. that's shocking.
by Luckywon
Tue Apr 09, 2019 3:05 pm
Forum: Investing - Theory, News & General
Topic: Retirees: Are you annually spending in Real or Nominal Terms?
Replies: 63
Views: 4178

Re: Retirees: Are you annually spending in Rea sd Nominal Terms?

Sheepdog thanks for sharing. Great to see how well your portfolio has help up despite a rough first decade! I'd be very interested in any more detail you'd care to share regarding your spending each year. What spending level did you start out at? How much did you adjust your spending down during th...
by Luckywon
Tue Apr 09, 2019 2:58 pm
Forum: Personal Consumer Issues
Topic: How Much Do You Pay For Haircut?
Replies: 115
Views: 6891

Re: How Much Do You Pay For Haircut?

Asked the same question about a year-and-a-half ago, heres the link and a summary of the responses. https://www.bogleheads.org/forum/viewtopic.php?f=11&t=233441&hilit=haircut#p3642489 Before they were removed this would be a perfect topic for a survey. Anyone care to summarize results so far? OP her...
by Luckywon
Mon Apr 08, 2019 9:43 pm
Forum: Investing - Theory, News & General
Topic: Retirees: Are you annually spending in Real or Nominal Terms?
Replies: 63
Views: 4178

Re: Retirees: Are you annually spending in Rea sd Nominal Terms?

20 years retired living off of savings and SS. Expenses are not uniform, I think everyone retired would agree. What would you do when you purchase a new car one year and not the next.....or take a $20K cruise.....re-roof your house, etc. My "formula" is to take out an "average" of 4.5% per year. I ...
by Luckywon
Sun Apr 07, 2019 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: Quality control for tax returns
Replies: 15
Views: 1807

Quality control for tax returns

Have had my personal and S-corp taxes prepared by the same CPA for the last 20 years. I've never detected an error but would not know where to begin looking. One thing I have done this year is purchase Turbotax which I plan to try to use to double check things, though I wonder if even this may not d...
by Luckywon
Sat Apr 06, 2019 8:50 am
Forum: Personal Consumer Issues
Topic: [On-going Scams - Post them here]
Replies: 136
Views: 6887

Re: Received a Ransomware email

SoDakJeff wrote:
Sat Apr 06, 2019 8:48 am
Luckywon wrote:
Sat Apr 06, 2019 8:13 am
SoDakJeff wrote:
Sat Apr 06, 2019 7:38 am
What's troubling to me, though, is the email contained my correct name and a password (also correct) that I use on a generic site
could you share what site? others who have registered there may like to know.
Kayak - the travel site.
Good to know, thanks!
by Luckywon
Sat Apr 06, 2019 8:13 am
Forum: Personal Consumer Issues
Topic: [On-going Scams - Post them here]
Replies: 136
Views: 6887

Re: Received a Ransomware email

SoDakJeff wrote:
Sat Apr 06, 2019 7:38 am
What's troubling to me, though, is the email contained my correct name and a password (also correct) that I use on a generic site
could you share what site? others who have registered there may like to know.
by Luckywon
Tue Apr 02, 2019 11:28 pm
Forum: Personal Finance (Not Investing)
Topic: Would like a review of my premium credit card usage portfolio
Replies: 47
Views: 2500

Re: Would like a review of my premium credit card usage portfolio

Good point, and I do have the Schwab version. I'm in the Vanguard ecosystem for everything besides my 401k though, and I like dealing with Vanguard's customer service, the UI, and the fact that most Bogleheads talk about Vanguard index funds even though functionally Schwab would have similar ones. ...
by Luckywon
Tue Apr 02, 2019 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: Would like a review of my premium credit card usage portfolio
Replies: 47
Views: 2500

Re: Would like a review of my premium credit card usage portfolio

Amex Plat Spend: Hotels (5X) only, since I prioritize CSR's travel protections and simplicity of 3X ALL travel over the 5X Flights. Benefits: Access to exclusive Amex Plat events, Centurion lounge, Hilton Gold, Marriott Gold. (Overlap with CSR and/or CNB regarding Global Entry, Priority Pass, Conci...
by Luckywon
Sun Mar 31, 2019 2:05 am
Forum: Personal Finance (Not Investing)
Topic: How often do you check your net worth?
Replies: 257
Views: 15485

Re: How often do you check your net worth?

Several times a day on an Excel spreadsheet which updates with Google Finance data.
by Luckywon
Sat Mar 30, 2019 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: Should I keep own set of banking ledgers?
Replies: 38
Views: 1619

Re: Should I keep own set of banking ledgers?

I don't keep any ledgers. With respect to validating charges on my credit card statements, whenever possible, and including all restaurant charges and gasoline station fills, I tailor the final amount charged to my card to end in 15 cents. (With gasoline station fills sometimes I might be off by a c...
by Luckywon
Thu Mar 28, 2019 8:28 am
Forum: Personal Consumer Issues
Topic: High School Senior Pictures
Replies: 91
Views: 4966

Re: High School Senior Pictures

Tibbitts, Good point. Maybe tell her we're keeping the $300 right where it is and check back in about five years? :)
by Luckywon
Wed Mar 27, 2019 12:03 pm
Forum: Personal Investments
Topic: All in with Balanced Index fund
Replies: 52
Views: 10566

Re: All in with Balanced Index fund

I think one reason is you could save on expenses by replicating the fund with two other Vanguard funds: The expense ratio for VBINX is 0.22. The fund is 60 % Total U.S. stock market and 40 % Broad U.S. Bonds. It seems to me you could replicate the fund by buying 60 % VTSMX (Total U.S. stock market)...
by Luckywon
Tue Mar 26, 2019 11:00 pm
Forum: Personal Consumer Issues
Topic: High School Senior Pictures
Replies: 91
Views: 4966

Re: High School Senior Pictures

Do the photos yourself. Put the $500 in an index fund and tell your daughter you'll turn it over to her in five years. She may be a little disappointed now but in five years I think she'll be thanking you.
by Luckywon
Sun Mar 24, 2019 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Is a million really the benchmark for retirement
Replies: 153
Views: 24073

Re: Is a million really the benchmark for retirement

When a family member moved into assisted living, I was surprised by how small the net increase in expenses was. Although assisted living is expensive, so many other expenses go away. Net was almost a wash. In addition, the sale of a house will help fund care. Good point. Another thing that may help...
by Luckywon
Sat Mar 23, 2019 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: Is a million really the benchmark for retirement
Replies: 153
Views: 24073

Re: Is a million really the benchmark for retirement

LadyGeek wrote:
Sat Mar 23, 2019 7:09 pm
^^^ Expect $2,000 / month for an assisted-living care facility (independent living). That's the going rate in my area.
>$4000/month in Southern California for independent living. Assisted living add on to that depending on level of assistance.
by Luckywon
Sat Mar 23, 2019 7:34 pm
Forum: Personal Investments
Topic: High Tax bracket strategies
Replies: 49
Views: 5218

Re: High Tax bracket strategies

I'd add:

Have a cash balance pension plan if possible.
From time to time move equities around brokerages for brokerage incentive bonuses.
by Luckywon
Sat Mar 23, 2019 5:17 pm
Forum: Investing - Theory, News & General
Topic: Quiz: Worst asset class drawdowns since 1926 (real dollars)
Replies: 21
Views: 1398

Re: Quiz: Worst asset class drawdowns since 1926 (real dollars)

pdavi21 wrote:
Sat Mar 23, 2019 4:53 pm
Do we win money for knowing the answer?
Just knowing the question would be worth something.
by Luckywon
Sat Mar 23, 2019 12:13 pm
Forum: Investing - Theory, News & General
Topic: Quiz: Worst asset class drawdowns since 1926 (real dollars)
Replies: 21
Views: 1398

Re: Quiz: Worst asset class drawdowns since 1926 (real dollars)

Tycoon wrote:
Sat Mar 23, 2019 11:45 am
Thesaints wrote:
Sat Mar 23, 2019 10:53 am
All financial vehicles are in the middle of a very long term, and very extreme, drawdown. Eventually, everything will be worth zero.
That's one bold prediction. Everything will be worth zero. I won't even be able to sell a kidney.
You are not permitted to sell a kidney now.
by Luckywon
Sat Mar 23, 2019 11:40 am
Forum: Investing - Theory, News & General
Topic: Quiz: Worst asset class drawdowns since 1926 (real dollars)
Replies: 21
Views: 1398

Re: Quiz: Worst asset class drawdowns since 1926 (real dollars)

All financial vehicles are in the middle of a very long term, and very extreme, drawdown. Eventually, everything will be worth zero. Thesaints, this is really a profound and fascinating observation. Literally as sure as the earth moves around the sun, it's true. But would you agree we are probably ...
by Luckywon
Sat Mar 23, 2019 9:35 am
Forum: Investing - Theory, News & General
Topic: Quiz: Worst asset class drawdowns since 1926 (real dollars)
Replies: 21
Views: 1398

Re: Quiz: Worst asset class drawdowns since 1926 (real dollars)

CULater wrote:
Sat Mar 23, 2019 8:54 am
largest historical drawdowns
CULater wrote:
Sat Mar 23, 2019 8:54 am
Where would your money have been the safest?:
Sorry I'm not getting the question here.
Could you more explicitly define what metrics you're referring to?
by Luckywon
Sat Mar 23, 2019 2:03 am
Forum: Personal Consumer Issues
Topic: What consideration do you give to product reviews?
Replies: 23
Views: 1185

Re: What consideration do you give to product reviews?

I buy a lot of things from Amazon and whenever possible I stick to products with -greater than four star average -have a large number of reviews (preferably thousands but if not a frequently purchased product then one of the more frequently reviewed in that line) -do not have one star reviews with s...
by Luckywon
Mon Mar 18, 2019 6:39 pm
Forum: Personal Investments
Topic: How to get over a $25K stock market loss?
Replies: 125
Views: 10848

Re: How to get over a $25K stock market loss?

I gambled and lost in the worst way possible. I've done much worse. So has the average person here, let alone outside of the bogleheads community, you just don't often hear those stories. 30 years from now, this wil be a small blip on the radar, probably notable mainly for being a learning experien...
by Luckywon
Sun Mar 17, 2019 10:19 am
Forum: Personal Consumer Issues
Topic: Am I being cheap? Wife wants a minivan, but I want to hold off
Replies: 170
Views: 8102

Re: Am I being cheap? Wife wants a minivan, but I want to hold off

Another vote for cheap. Get the Odyssey pronto as from this point on if there are any mishaps in that CRV it's potentially going to be ugly.
by Luckywon
Sat Mar 16, 2019 6:35 pm
Forum: Personal Consumer Issues
Topic: Age for starting kindergarten
Replies: 61
Views: 3924

Re: Age for starting kindergarten

He was a bit of a crybaby and had little interest in following the program in pre-K. Just anote from outside. The use of “crybaby” for a young boy sounds nasty. I hope the kids were not called that by their parents. Huh? I agree the term "crybaby" is pejorative if directed at someone in person but ...
by Luckywon
Fri Mar 15, 2019 11:15 pm
Forum: Personal Finance (Not Investing)
Topic: Another Can I Retire Question
Replies: 27
Views: 2711

Re: Another Can I Retire Question

The plan would be to sell our house here and with those proceeds have $3M invested in the market (roughly 1.5M taxable/1.5M tax deferred) with a (60/40 or 70/30 mix with Vanguard), pay cash for a $300K house in the South (which would be a very nice house for that price) and have $200K left over in ...
by Luckywon
Thu Mar 14, 2019 3:53 pm
Forum: Personal Investments
Topic: How to handle individual 401k administration
Replies: 14
Views: 1141

Re: How to handle individual 401k administration

Update: filed the 5500-SF for 2018 electronically today, took me about 30 minutes. Next year I think it will be much faster now I am registered on the EFAST2 system for filing. Having a previous year form did help quite a bit as far as answering some of the questions (three-digit plan number, plan c...
by Luckywon
Thu Mar 14, 2019 11:49 am
Forum: Personal Consumer Issues
Topic: Teen got into auto accident, fight ticket or pay fine?
Replies: 79
Views: 4612

Re: Teen got into auto accident, fight ticket or pay fine?

Question is whether it is worth fighting the ticket ........ Not going to get much useful advice with the limited information provided. Some of the possible factors to be weighed: -cost of ticket -likelihood of success contesting the ticket (some details about the citation would help assess this) -...
by Luckywon
Tue Mar 12, 2019 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Podcasts [Financial]
Replies: 49
Views: 4056

Re: Podcasts

Two excellent podcasts not mentioned so far:

The Moth (true stories told onstage)
Modern Love
by Luckywon
Sat Mar 09, 2019 6:55 pm
Forum: Personal Investments
Topic: I think I can retire. Help me with the confidence and a plan.
Replies: 29
Views: 5118

Re: I think I can retire. Help me with the confidence and a plan.

The basic question, then, is, can I fund this desired retirement with $4.25M in assets (plus home equity for emergency use)? Using the magic 4% rule, I'm there! California resident similar age and expenses here so I appreciate many of the specifics of your situation. It seems to me that applying th...
by Luckywon
Thu Mar 07, 2019 1:48 am
Forum: Personal Investments
Topic: Most NON obvious thing for new investors
Replies: 58
Views: 7817

Re: Most NON obvious thing for new investors

I think it would be that success for the individual investor had almost nothing to do with knowing about the financials of companies or timing the market and almost everything to do with understanding personal risk tolerance and minimizing investing expenses.
by Luckywon
Thu Mar 07, 2019 12:38 am
Forum: Personal Consumer Issues
Topic: First “financial” thing you do in the morning
Replies: 80
Views: 5839

Re: First “financial” thing you do in the morning

I open up my excel spreadsheet which tracks all my investments. I'm primarily looking at daily net gain or loss. Since I'm in PST market open is 6:30 am. The spreadsheet is a great way to aggregate my holdings which are spread over three brokerages. I check the spreadsheet frequently throughout trad...
by Luckywon
Sun Feb 10, 2019 1:02 pm
Forum: Personal Consumer Issues
Topic: Corporate lease advice for car
Replies: 3
Views: 384

Re: Corporate lease advice for car

Agree with analysis by btenny plus it sounds like you will not have to pay any maintenance since 1st maintenance is free and you can change cars before 2nd maintenance. So if you have to pay maintenance in your current lease add that savings.
by Luckywon
Sun Feb 10, 2019 12:33 pm
Forum: Personal Investments
Topic: What Should I Ask The Schwab Rep?
Replies: 14
Views: 1077

Re: What Should I Ask The Schwab Rep?

I have had investment funds at Schwab, Fidelity, Ameritrade, ETrade, Merrill Lynch. My experience has been that I can easily live with the services offered and customer service provided at most of them, (except I would never do business with Merrill Lynch/BA again). With that in mind, I have been mo...